Ethic Inc. Decreases Stock Position in United Microelectronics Co. (NYSE:UMC)

Ethic Inc. decreased its position in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 27.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,964 shares of the semiconductor company's stock after selling 114,439 shares during the quarter. Ethic Inc.'s holdings in United Microelectronics were worth $1,940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of United Microelectronics during the 4th quarter worth $242,000. Dimensional Fund Advisors LP grew its position in shares of United Microelectronics by 20.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,288,513 shares of the semiconductor company's stock worth $8,362,000 after buying an additional 214,783 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of United Microelectronics by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company's stock worth $6,787,000 after buying an additional 53,264 shares in the last quarter. Barclays PLC grew its position in shares of United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company's stock worth $26,995,000 after buying an additional 240,380 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of United Microelectronics by 6.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 83,851 shares of the semiconductor company's stock worth $544,000 after buying an additional 5,377 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Down 0.1%

UMC stock traded down $0.01 during trading on Friday, reaching $7.84. 4,509,288 shares of the company traded hands, compared to its average volume of 12,695,871. United Microelectronics Co. has a 12 month low of $5.61 and a 12 month high of $9.00. The business has a 50 day simple moving average of $6.91 and a 200 day simple moving average of $6.64. The company has a market capitalization of $19.63 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $57.63 billion. During the same period in the previous year, the business earned $0.13 EPS. United Microelectronics's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UMC. Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Wedbush downgraded United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, United Microelectronics has a consensus rating of "Hold" and a consensus target price of $7.40.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.